Barlow Wealth Partners Inc. Buys 17,311 Shares of Mueller Industries, Inc. (NYSE:MLI)

Barlow Wealth Partners Inc. increased its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 8.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 222,058 shares of the industrial products company’s stock after acquiring an additional 17,311 shares during the quarter. Mueller Industries comprises about 2.3% of Barlow Wealth Partners Inc.’s portfolio, making the stock its 15th largest holding. Barlow Wealth Partners Inc. owned approximately 0.20% of Mueller Industries worth $18,040,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of MLI. GAMMA Investing LLC lifted its holdings in shares of Mueller Industries by 36.0% in the 3rd quarter. GAMMA Investing LLC now owns 552 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 146 shares during the last quarter. Kapitalo Investimentos Ltda boosted its stake in shares of Mueller Industries by 3.5% during the third quarter. Kapitalo Investimentos Ltda now owns 4,582 shares of the industrial products company’s stock valued at $340,000 after purchasing an additional 156 shares during the period. GM Advisory Group LLC grew its holdings in shares of Mueller Industries by 5.3% in the third quarter. GM Advisory Group LLC now owns 3,792 shares of the industrial products company’s stock worth $281,000 after purchasing an additional 192 shares during the last quarter. Hsbc Holdings PLC increased its stake in Mueller Industries by 1.8% in the 2nd quarter. Hsbc Holdings PLC now owns 13,188 shares of the industrial products company’s stock worth $757,000 after buying an additional 233 shares during the period. Finally, Xponance Inc. lifted its holdings in Mueller Industries by 4.4% during the 2nd quarter. Xponance Inc. now owns 7,123 shares of the industrial products company’s stock valued at $406,000 after buying an additional 302 shares in the last quarter. 94.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Northcoast Research raised shares of Mueller Industries from a “neutral” rating to a “buy” rating and set a $105.00 price target for the company in a research note on Wednesday, December 11th.

Mueller Industries Trading Up 0.7 %

Shares of Mueller Industries stock opened at $82.71 on Wednesday. The stock’s fifty day moving average price is $82.08 and its 200-day moving average price is $75.39. The firm has a market cap of $9.41 billion, a P/E ratio of 16.06 and a beta of 1.00. Mueller Industries, Inc. has a 12 month low of $46.43 and a 12 month high of $96.81.

Mueller Industries (NYSE:MLI) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.16. Mueller Industries had a net margin of 16.39% and a return on equity of 23.25%. The business had revenue of $997.80 million for the quarter, compared to the consensus estimate of $936.00 million. The company’s revenue for the quarter was up 21.7% compared to the same quarter last year.

Mueller Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Friday, December 6th. Mueller Industries’s payout ratio is 15.53%.

Insider Buying and Selling

In other Mueller Industries news, Director Charles P. Herzog, Jr. sold 15,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $92.04, for a total value of $1,380,600.00. Following the completion of the transaction, the director now directly owns 17,733 shares in the company, valued at approximately $1,632,145.32. The trade was a 45.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John B. Hansen sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $83.09, for a total transaction of $83,090.00. Following the completion of the sale, the director now owns 94,914 shares in the company, valued at $7,886,404.26. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by insiders.

About Mueller Industries

Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, South Korea, the Middle East, China, and Mexico. It operates through three segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment offers copper tubes, fittings, line sets, and pipe nipples.